Welcome to our dedicated page for Workday news (Ticker: WDAY), a resource for investors and traders seeking the latest updates and insights on Workday stock.
Workday, Inc. (NASDAQ: WDAY) is a pioneering provider of enterprise cloud applications specializing in financial management, human capital management (HCM), and analytics solutions. Founded in 2005 and headquartered in Pleasanton, California, Workday serves over 10,500 organizations globally, ranging from medium-sized businesses to more than 60% of the Fortune 500.
Core Offerings:
- Financial Management: Robust solutions for financial planning, consolidation, reporting, and analytics.
- Human Capital Management: Comprehensive tools for managing the entire employee lifecycle, including recruitment, talent management, and payroll.
- Business Planning: Adaptive planning tools that enable organizations to streamline processes and improve business outcomes.
Workday sets itself apart as a cloud-only software provider, embedding artificial intelligence (AI) and machine learning (ML) into its applications. This innovation helps customers adapt to the rapidly changing business landscape by optimizing their human resources and financial operations.
Recent achievements include the announcement of new AI innovations at Workday DevCon 2024, such as the Workday AI Gateway and AI Marketplace, which are designed to make it easier for developers and partners to build intelligent solutions on the Workday platform. Additionally, Workday's partnership with Google Cloud aims to integrate generative AI capabilities to enhance app development and business insights.
Financially, Workday continues to show strong performance. For fiscal year 2024, the company reported solid revenue growth and an increase in non-GAAP operating margins. CEO Carl Eschenbach highlighted the company's value proposition, growth of its partner ecosystem, and the strength of its international performance as key factors driving success.
With more than 18,000 employees, Workday is committed to continuous innovation and providing exceptional service to its clients. The company is also focused on strategic partnerships and acquisitions to drive future growth and enhance its product offerings.
Recent News Highlights:
- February 8, 2024: Workday announced its fiscal 2024 fourth quarter and full-year financial results, showcasing continued momentum and positive financial outlook.
- March 19, 2024: Launch of Workday Adaptive Planning and Consolidation to streamline data management and enhance financial reporting capabilities.
- May 23, 2024: Fiscal 2025 first quarter results indicated solid revenue growth and margin expansion, emphasizing the impact of generative AI and key growth initiatives.
- June 3, 2024: Announcement of new AI innovations and expanded Google Cloud partnership, enhancing the capabilities of Workday Extend and providing advanced AI tools for developers.
- June 5, 2024: Introduction of the Built on Workday program, enabling partners to create and monetize tailored finance and HCM apps.
Workday, Inc. (NASDAQ: WDAY) announced Workday Everywhere, a new offering that integrates Workday tasks into popular digital workspaces, enhancing productivity and engagement for employees. This initiative addresses challenges posed by the hybrid work environment, allowing seamless access to Workday from various applications, including Microsoft Teams and Slack. Designed with employee experience in mind, it leverages machine learning to provide personalized recommendations and notifications. Workday Everywhere is available at no extra cost to Human Capital Management customers.
Workday, Inc. (NASDAQ: WDAY) announced on September 29, 2021, that Google has enhanced its subscription to Workday’s cloud applications, including Workday Adaptive Planning, Workday Extend, Workday Prism Analytics, and Workday Strategic Sourcing. This expansion aims to support Google's global workforce by improving talent management and HR operations. As organizations adapt to dynamic environments, Workday’s solutions provide the necessary data-driven insights and flexibility for effective hiring and growth.
Workday Inc. (NASDAQ: WDAY) announces that nearly 1,000 organizations are leveraging its Skills Cloud to enhance workforce management. With the new skills foundation solution, customers can streamline the adoption of skills infrastructure, including tools like Talent Marketplace. A McKinsey report shows 87% of executives see skill gaps; Workday addresses this with real-time skill analytics. Since its launch, Skills Cloud has grown verified skills from 25 million to over 2 billion, equipping organizations to better align talent with business needs.
Workday (NASDAQ: WDAY) announced its 2021 financial analyst day, set for September 21, 2021, at 1:00 p.m. PT. The event will be virtual, featuring key presentations from senior executives regarding the company’s corporate strategy, product innovation, financial performance, and customer growth. Stakeholders can access the live webcast on the Workday Investor Relations site, with replays available for 90 days post-event.
Workday has announced the acquisition of Zimit, a leader in configure price quote (CPQ) solutions for services industries. This strategic move aims to enhance Workday's quote-to-cash offerings, enabling improved revenue visibility and operational efficiency. The integration of Zimit's technology is expected to streamline the quoting process, reducing turnaround time from days to minutes. The deal is projected to close in Q3 of Workday’s fiscal year 2022, pending customary conditions. Financial details of the acquisition remain undisclosed.
Workday reported strong fiscal Q2 2022 results with total revenues of $1.26 billion, up 18.7% year-over-year. Subscription revenue reached $1.11 billion, a 19.5% increase. The 24-month subscription backlog stands at $6.88 billion, up 19.0%. The company posted a non-GAAP operating income of $291.8 million, or 23.2% of revenues, with basic net income per share of $0.43. Guidance for fiscal 2022 subscription revenue is raised to $4.500 billion to $4.510 billion, indicating strong growth potential.
VNDLY, a Workday Access software partner, has achieved Workday Certified Integration status, enhancing its integration with Workday Human Capital Management (HCM). This integration aims to provide total workforce visibility, benefiting mutual customers like Fifth Third Bank and Pacific Life by improving compliance and reducing costs. VNDLY's Workforce Connector allows seamless data synchronization, eliminating manual processes and improving risk management. Clients praise the integration for its efficiency and enhanced data integrity, contributing to better workforce management.
Workday announces its entry into the federal market with the launch of Workday Government Cloud, achieving Ready status under FedRAMP at a Moderate impact level. This move aims to support federal agencies in IT transformation by providing real-time insights into workforce development, compliance, and financial sustainability. The federal sector faces challenges, including workforce shortages and regulatory pressures. With the Workday Government Cloud, agencies can effectively manage resources and navigate compliance requirements. The full Authority to Operate is anticipated by Spring 2022.
Google Cloud and Workday Inc. (NASDAQ: WDAY) have partnered to support global businesses in their digital transformation. This collaboration enables customers to run Workday's enterprise applications—including Financial Management, Human Capital Management, and Adaptive Planning—on Google Cloud's infrastructure. With over 50 million users, Workday aims to enhance workforce productivity while ensuring security and performance. The partnership includes co-marketing and co-selling initiatives to expand market awareness, addressing the need for flexible data management solutions.
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